Exxon, Murphy sue Canada over NAFTA 10/07/2007
Exxon Mobil Corp. and Murphy Oil have served notice that they plan to sue Canada for breaching the North American Free Trade Agreement by permitting Newfoundland to require them to spend millions of d...

Ownership over royalties 09/23/2007
Newfoundland opts for equity ownership of up to 10%; unveils draft natural gas royalties; industry likes 'clarity, stability'
Newfoundlanders, in their own words, "will tell it to you straight, boy." That message has come across loud and clear over the past 16 months in the jarring test of wills and the high-risk gamble betw...

Newfoundland, Hebron partners cut deal 08/26/2007
Memorandum of understanding signed between province, Chevron-Canada led offshore oil consortium; details of MOU confidential
To paraphrase Winston Churchill, this is not the beginning of the beginning, or the end of the end, but it does appear to be the end of the beginning. With talk of a "spirit of cooperation and good fa...

Profits, labor woes hit Alberta 08/12/2007
Conference Board of Canada predicts 25% drop in profits this year, but expects 2008 rebound
The Canadian oil industry is headed for a 25 percent jolt to its bottom line this year as lower commodity prices earlier in the year and rising industry costs cut into profits, the Conference Board of...

Newfoundland heads downhill ... unless 07/22/2007
In the absence of any new discoveries or development of satellite pools, offshore Newfound and is headed for a sharp decline in production from 138 million barrels this year to 84 million barrels by 2...

Action quickens in Greenland 07/15/2007
Acquisition season begins; EnCana exec puts offshore well costs at about $60M
Interest in Greenland is perking up among Canadian companies, with EnCana on the hunt for a farm-in partner for two offshore licenses and Husky Energy eager to apply its offshore Newfoundland experien...

Newfoundland ready for test of wills 06/17/2007
Williams: Hebron partners won't get better offer; set to demand equity stake of at least 5 percent in all new offshore projects
Premier Danny Williams is immensely popular in his home province of Newfoundland, where the polls indicate he is a prohibitive favorite for re-election in October. But he's immensely unpopular with oi...

Canadian gas exports take bruising 05/27/2007
Revenues from Canadian natural gas exports to the United States trailed returns from oil in 2006 for the first time in many years, the National Energy Board said in its annual report. Net crude oil ex...

Duvernay Oil gives gas a chance 05/27/2007
Intermediate EandP bucks spending trend with 22% hike in gas program for 2007, but majors remain in wait-and-see stance
Duvernay Oil, an intermediate EandP company, is either on its own or leading the pack in pulling Western Canada out of its natural gas slump. The Calgary-based company, which produced almost 21,000 barr...

Husky runs with the big dogs 04/29/2007
Announces two-for-one stock split; looking at stake in U.S. refinery
Once the runt of the litter, Husky Energy is now a full-fledged member of the pack, snapping at the heels of its peers and nuzzling up to its investors. In quick succession in mid-April it announced a...

Husky brings sparkle to Newfoundland 04/08/2007
Husky Energy is providing the one real jolt of hope these days in offshore Newfoundland, piling up drilling success and obtaining regulatory approval for a 40 percent hike in production from its White...

Downtime plagues pivotal Newfoundland offshore well 03/25/2007
What was destined to be one of the most expensive, deepest and most challenging offshore exploratory wells in Canadian history is living up to expectations. With the future of Newfoundland's indust...

Oil sands, Newfoundland underpin growth 02/18/2007
Canadian crude oil volumes are expected to grow by 9 percent this year, reflecting a mixed bag of shrinking conventional output in Western Canada, offset by the anticipated gains from Alberta's oil sa...

Premier Williams goes to mat - again 01/28/2007
Newfoundland premier doesn't give a hoot about Big Oil as he adds Hibernia to his list of projects targeted for better returns
The huffing and puffing that characterizes Newfoundland Premier Danny Williams is reaching a point where he threatens to blow his own house down. Hell-bent on doing whatever it takes to squeeze bette...

Canada: 2005 a very good year 12/17/2006
But Canada's conventional spending, drilling in trouble in 2006 and 2007; industry says return to 2005 levels needs strong commodity prices, responsive regulatory environment; CAPP's oil sands numbers to projects in development or developed
A benchmark drilling year contributed to some healthy gains in Canada's oil and gas reserves in 2005, but the jury is out on what to expect this year and next. In its latest annual update of the numbe...

Olympic-size dreams revived 12/03/2006
B.C. premier wants offshore gas in '2 or 3 years;' feds cool to lifting moratorium
In a moment of over-exuberance, British Columbia Premier Gordon Campbell once said he hoped to use natural gas from the province's offshore to ignite the flame at the 2010 Vancouver Winter Olympic Gam...

Newfoundland gamble on grand scale 08/06/2006
Chevron-partnership ready to spud C$140 million exploratory well in Orphan basin in mid-August; downplays chances of success
Newfoundland's storm-tossed seas, which produce some sickening lurches at times for offshore operators, are entering what could be their most exciting phase. In a 40-year history replete with stories...

Newfoundland government hopeful 06/11/2006
Says Hebron proven, probable resources revised upward to 731 million barrels from original 414 million
The Newfoundland government thinks it has found a way to entice partners in the Hebron offshore oil project back to the bargaining table. Two months after the Chevron Canada-led partnership abandoned...

Terra Nova closed; White Rose blooms 05/21/2006
Newfoundland's offshore Terra Nova oil project is long past its shake-down phase, which gives added cause for worry as operator Petro-Canada turns what was supposed to be a 70- to 90-day refit this su...